On-line Gaming For PS/3

Sony gave a sneak peak into their on-line gaming plans this week. Called "Launch Pad", the service will allow users to connect with a variety of Sony on-line games like EverQuest and Star Wars Galaxies. but at $24.99 a month, that's much more expensive than Microsoft X-Box Live on-line service. I don't understand that pricing, looks way over priced to me.